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Aag lagi par sambhal li, ab restart ki planning!
HPCL ne confirm kiya hai ki unke Rajasthan Refinery Limited (HRRL) mein April 20, 2026 ko jo aag lagi thi, woh sirf ek heat exchanger stack mein thi, jisme 6 exchangers aur kuch related equipment affect hue. Preliminary reports ke hisaab se, yeh hydrocarbon leak ki wajah se hua tha. Restoration ka kaam abhi chal raha hai aur agle 3-4 hafton mein khatam hone ki ummeed hai.
Company ka plan hai ki refinery ki main unit, Crude Distillation Unit (CDU), May 2026 ke end tak phir se start ho jayegi. Isi mahine trial production bhi hoga LPG, Motor Spirit, High-Speed Diesel, aur Naphtha jaisi cheezon ka. Uske baad units ko stabilize aur commission kiya jayega.
Zyada impact nahi, safety check shuru!
HPCL ka kehna hai ki is incident ka financial aur operational impact abhi assess ho raha hai, par lagta nahi hai ki koi bada nuksan hoga. Factory ki baaki saari secondary units bhi schedule par chal rahi hain aur lagbhag poori hone wali hain. Structure ko koi damage nahi hua hai aur refinery ke doosre sections bhi safe hain.
Chunki PM Narendra Modi ko ise inaugurate karna tha, woh date ab postpone kar di gayi hai safety checks ke liye aur investigation ke liye. Oil Ministry ne 4 logon ki ek panel banayi hai jo iski jaanch karegi.
HPCL ka valuation peers jaisa hi hai
HPCL ka current valuation, matlab Price-to-Earnings (P/E) ratio, 5.2x se 6.7x ke beech mein hai, aur company ki market capitalization lagbhag ₹79,000 crore hai. Yeh Indian Oil Corporation (IOCL) aur Bharat Petroleum Corporation Limited (BPCL) jaise public sector companies ke P/E ratios (5.0x se 8.6x) ke aas paas hi hai. Dusri taraf, Reliance Industries jaise diversified company ka P/E 21.97x hai.
Sector mein risk toh rehta hai
Oil aur gas sector mein aise operational issues aate rehte hain. 2013 mein HPCL ki Visakh refinery mein ek bada hadsa hua tha jisme log mare bhi the. Abhi Middle East mein chal rahe tensions ki wajah se crude oil prices bhi fluctuate kar rahe hain. Analysts jaise UBS ne bhi sector ki vulnerabilities ko notice kiya hai.
Project kaafi bada hai, safety pe dhyan dena zaruri
HRRL project mein ₹79,450 crore se bhi zyada ka paisa laga hai. Finance aur cost overruns ki chinta rehti hai. Kuch analysts ka manna hai ki repairs ki wajah se project May 2026 ke baad bhi extend ho sakta hai. Inauguration se theek pehle aag lagna complex facilities ke risks ko dikhata hai aur safety protocols par sawal uthata hai. Jabki koi casualties nahi hui, hydrocarbon leak jaise reasons operational safety par constant vigilance ki zarurat batate hain.
Analysts ka verdict 'Neutral' hai
HPCL ke liye analysts ka mil-jul kar opinion hai, jisme 32 analysts mein se 17 'Buy' keh rahe hain, 5 'Sell' aur baaki 'Neutral' rating de rahe hain. Average 12-month price target lagbhag ₹441.35 hai, jo thoda upside dikhata hai. Aage chal kar HPCL ka performance oil prices, debt levels, aur operational safety par depend karega. May 2026 mein CDU ke restart ka timeline clear hai, par sector risks ko dhyan mein rakhna hoga.